$ONE:AFBIX - SharpCharts 2 from StockCharts.com: "I took the inverse of the AFBIX (which is a short ETF following credit spreads) and logged that with the $SPX in the background. Notice the nice corrolation up to April. After April, there is divergence meaning one has become detached from the other. Does it mean that credit spreads no longer matter? I don't think so. I think the market is trying to decide what's acceptable.
I've been in the financial market for a long time....this is erilly like the 1986/1987 timeframe."
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